Jewelry and gems worth up to $10 million belonging to show exhibitors were stolen from an armored truck.
In the early morning of July 11, a Brink’s truck was robbed near Los Angeles, said the security company.
The vehicle was loaded with merchandise on July 10 after an exhibit hosted by the International Gem and Jewelry Show in San Mateo, near San Francisco. Its next destination was an event at the Pasadena Convention Center, northeast of Los Angeles, said Brandy Swanson, the group’s director.
Swanson said that between 25 to 30 bags were taken but the number of individual pieces in those bags remains unknown. She said 18 victims reported over $100 million in losses, but Brink’s representative Danna Callahan said it was less than $10 million.
“According to the information the customers provided to us before they shipped their items, the total value of the missing items is less than $10 million,” Brink’s said in a statement. “We are working with law enforcement, and we will fully reimburse our customers for the value of their assets that were stolen, in accordance with the terms of our contract.”
Swanson said that the discrepancy is due to jewelry vendors underinsuring their merchandise because they can’t afford full coverage.
“These are mom-and-pop operators,” Swanson said. “They’re devastated. Some of these people have lost their entire livelihoods.”
It remains unclear how the truck was robbed, whether there were security cameras around, or if there were tracking devices on the lockers.
A spokeswoman for the Federal Bureau of Investigation said the bureau agency was working with local authorities but could not provide more information.